Stories are still told of the fall of Rome. A vast empire, one so organized that the likes of it had never been seen before in history. But for all its might and glory, Rome fell and became just another chapter in the vast history of the world. Empires come and go like this all the time, no matter how great they manage to be during their heyday. It seems like the Apple Empire, one that sparked a technological revolution when it released the iPhone, might be falling just like that of Rome.
This seems likely because of the fact that Apple has lost an incredible $450 billion dollars in its total value in the past three months. This is more than the total value of Facebook, one of the biggest companies in the world. Apple’s stock price has dropped by nearly 10% as well.
This rapid decline was further sped up by the fact that Tim Cook sent out a letter to investors a few days ago that told them that Apple had sold fewer iPhones than had been initially expected. This rapid decline is occurring for a variety of reasons. The global economy has a part to play, as the overvaluation of the dollar has left the iPhone too expensive in some places. People are also preferring to repair old models rather than buy new phones which is obviously going to result in far less revenue for Apple overall.
Featured Photo: Getty Images / Chart Courtesy of: Statista.
This seems likely because of the fact that Apple has lost an incredible $450 billion dollars in its total value in the past three months. This is more than the total value of Facebook, one of the biggest companies in the world. Apple’s stock price has dropped by nearly 10% as well.
Related: Will Apple Be the Next Nokia? Goldman-Sachs Seems to Think SoThis is particularly shocking when you consider the fact that all of this was preceded by Apple crossing over a trillion dollars in value and becoming the third most valuable company in the world after Amazon and Microsoft. Now Google’s parent company Alphabet sits at the bottom of the top three.
This rapid decline was further sped up by the fact that Tim Cook sent out a letter to investors a few days ago that told them that Apple had sold fewer iPhones than had been initially expected. This rapid decline is occurring for a variety of reasons. The global economy has a part to play, as the overvaluation of the dollar has left the iPhone too expensive in some places. People are also preferring to repair old models rather than buy new phones which is obviously going to result in far less revenue for Apple overall.
Featured Photo: Getty Images / Chart Courtesy of: Statista.
